REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED (REGISTERED NUMBER: SC548050) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 October 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
6 Miller Road |
Ayr |
KA7 2AY |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED (REGISTERED NUMBER: SC548050) |
STATEMENT OF FINANCIAL POSITION |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash in hand |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED (REGISTERED NUMBER: SC548050) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Textile Care Supplies (Holdings) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Functional currency |
The financial statements are presented in British Pounds Sterling which is the functional currency. Figures are shown to the nearest whole pound. |
Significant judgements and estimates |
The preparation of financial statements requires the use of certain accounting estimates . It also requires the Directors to exercise judgement in applying the Companies Accounting policies. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements, are disclosed below: |
Estimation Uncertainty |
Recoverability of Debtors |
The Company assesses the recoverability of Debtors on an individual basis, taking into consideration payment history, and perceived liquidity. Where it is considered that there is a higher than normal risk to the recoverability of these, provision is made against the recoverability of these debts. |
Key Judgements made in the application of Accounting Policies |
a) Exemptions taken in the transition to FRS 102 |
The Company has considered and taken advantage of the following exemptions in its first time application of FRS 102: |
i) The Company has not revisited previous accounting estimates. |
Financial instruments |
Classification |
The Company believes all financial instruments are Basic Financial Instruments. Therefore, the Company recognises these in accordance with Section 11 of the Financial Reporting Standard. |
Recognition and measurement |
The company's debt instruments are measured at amortised cost using the effective interest rate method. |
Impairment |
Financial instruments are reviewed annually for impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED (REGISTERED NUMBER: SC548050) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Debtors |
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired. |
Cash and cash equivalent |
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account. |
Creditors |
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £0.01 | 100 | 100 |
TEXTILE CARE SUPPLIES (HOLDINGS) LIMITED (REGISTERED NUMBER: SC548050) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2023 |
6. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2022 |
Profit for the year |
At 31 October 2023 |